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<br />'.--" <br />, , <br /> <br />LOAN OONTRACT <br />Beaver Park Yater, Inc. <br />Feasibility Study <br /> <br />in the project facilities and any other property identified in attached Deed of Trust, <br />Appendix D. <br /> <br />lle. (Casualty and Imminent Domain): If, at any time, during the term of this <br />Contract, (a) the Beaver Park Water Company's Brush Hollow Dam Project facilities, <br />including buildings, or any portion thereof, are damaged or destroyed, in whole or in <br />part, by fire or other casualty, or (b) title to or use of the Brush Hollow Dam Project <br />facilities or any part thereof shall be taken under the exercise of the power of eminent <br />domain, the State and the Borrower shall cause the net proceeds of any insurance claim <br />or condemnation award which belong to the Borrower or over which the Borrower has <br />any control to be applied to the prompt replacement, repair and restoration of the <br />Brush Hollow Dam Project facilities or any portion thereof. Any net proceeds <br />remaining after such work has been completed shall be paid to the Borrower. If the <br />net proceeds are insufficient to pay the full cost of the replacement, repair and <br />restoration, the Borrower shall complete the work and pay any cost in excess of the net <br />proceeds (provided, however, that the Borrower shall be obligated to pay any such cost <br />in excess of net' proceeds only to the extent of any moneys available therefor in any <br />funds created under this Contract). ' <br /> <br />llf. (Contract price can be adjusted if unit cost are later found to be <br />inaccurate): The original contract price stated in paragraph 4. and any additions <br />thereto shall be adjusted to exclude any significant sums by which the State determines <br />the contract price has been increased due to inaccurate, incomplete, or noncurrent <br />wage rates and other factual unit costs, All such contract adjustments shall be made <br />within one (1) year following the State's acceptance of the feasibility study, <br /> <br />12. (Addresses for Mailing): All notices, correspondence, or other documents <br />required by this contract shall be delivered or mailed to the following addresses: <br /> <br />a, For the State : <br /> <br />b, For the Borrower <br /> <br />Daries C. Lile, P,E" Director <br />Colorado Water Conservation Board <br />721 State Centennial Building <br />1313 Sherman Street <br />Denver, CO 80203 <br />Attn: Bill Stanton <br /> <br />Beaver Park Water, Inc, <br />P,O. Box 286 <br />Penrose, CO 81240 <br /> <br />Attn: Troy Templeton <br /> <br />w:\ wcrRANS\BEA VERPAfk <br /> <br />Page 8 of 10 Pages <br />